Vested Legacy
Defined in 3 dictionaries — Cyclopedic (1922), Ballentine's (1916), Black's (1910)
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
A legacy is said to be vested when the words of the testator making the bequest convey a transmissible interest, whether present or future, to the legatee in the legacy. Thus, a legacy to one to be paid when he attains the age of twenty-one years is a vested legacy, because it is given unconditionally and absolutely, and therefore vests an immediate interest in the legatee, of which the enjoyment only is deferred or postponed. Brown.
Ballentine's Law Dictionary
James A. Ballentine · 1916
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
A legacy is said to be vested when the words of the testator making the bequest convey a transmissible interest, whether present or future, to the legatee in the legacy. Thus a legacy to one to be pnid when he attains the age of twenty-one years is a vested legacy, because it is given unconditionally and absolutely, and therefore vests an immediate interest in the legatee, of which the enjoyment only is deferred or postponed. Brown. See Magoffin v. Patton, 4 Rawle (Pat) 113; Tal-madge v. Seaman, 85 Hun, 242, 32 N. Y. Supp. 906; Rubencane v. McKee, 6 Del. Oh. 40, 6 Atl. 639.
Defined under Vested in Black's Law Dictionary.